WEST PALM BEACH, Florida — The financial difficulties associated with problems in Florida’s insurance market took center stage during WPTV’s live coverage of the Port St. Lucie City Hall collapse on Tuesday evening.
It was a lively hour with many good questions about tariffs, cancellations and solutions.
Towards the end of the show, Doug Quinn of the American Policyholders Association – a consumer protection group – earned applause from the town hall audience when he said that insurance companies were not regulated strictly enough.
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On Wednesday, he told WPTV that citizens have a right to be angry about the high premiums.
“Before Hurricane Irma in 2017, there were 12 years without any major hurricanes in Florida. … Between Hurricane Michael in 2018 and Hurricane Ian in 2022, there were four years where the insurance companies collected billions of dollars,” Quinn told WPTV. “Where is all the money? We encourage the state of Florida to just follow the money.”
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Florida lawmakers, including Republican Rep. Toby Overdorf of Palm City, who attended the town hall meeting Tuesday night, stressed that insurers in Florida are strictly regulated.
Thousands of Florida residents still don’t like it. They have been hit hard in recent years by skyrocketing rates, which in some cases have increased by thousands of dollars in a short period of time.
Click here to watch the entire one-hour town hall meeting.
Matt Sczesny is committed every day to helping you find solutions to the Florida insurance collapse. If you have a question or comment about homeowners insurance, feel free to contact him anytime.
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